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November 26, 2013
For immediate release

Federal and Provincial Governments support Montague business incubator

Innovation and Advanced Learning

The Community Welfare League of Montague will convert a downtown building into an Information and Communications Technology (ICT) business incubator thanks to support from the federal and provincial governments. The announcement was made today by the Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency), and the Honourable Allen Roach, PEI Minister of Innovation and Advanced Learning.

The ICT labour pool is considered to be one of the most highly skilled sectors in the province. This sector currently employs approximately 1,400 workers in over 100 firms.

“Our Government is pleased to invest in strategic infrastructure projects that support and attract businesses to our local communities,” said Minister Moore. “When we support projects such as this one, led by the Community Welfare League of Montague, we are supporting small and medium-sized businesses -- the true job creators in our economy.”

The Montague Business Incubator will be strategically located on Main Street and is expected to include space for four to five small start-ups as a well as an anchor tenant. Renovations are expected to be completed by summer of 2014.

“As a Montague resident, I know that this town will benefit from encouraging development of well-paid Information Technology jobs,” said Minister Roach. “Our government has faith in the entrepreneurs of Prince Edward Island, and I am confident this incubator will be the starting point for many new IT businesses in eastern Prince Edward Island.”

The Government of Canada, through ACOA’s Innovative Communities Fund, is providing a contribution of $239,100. The Government of Prince Edward Island is supporting this project with a $309,000 loan from Finance PEI, and a $150,000 grant from Innovation PEI.

“The Community Welfare League is excited to be part of this development project and sees the need for furthering economic development in Kings County,” said Scott Bell, chair of the Community Welfare League Board. “We feel the site will provide a much needed location for budding entrepreneurs to grow their business while supporting the local economy.”

Media Contact: Ron Ryder
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